Multiple Choice
Which of the following items would not be accounted for under current GAAP as a change in estimate?
A) an increase in the expected life of a piece of manufacturing equipment
B) a decrease in the estimated residual value of a delivery van
C) a change from FIFO to LIFO for a small subsidiary
D) an increase in defective items for the best selling video game
Correct Answer:
Verified
Correct Answer:
Verified
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